CAVA Group (NYSE:CAVA) Sets New 52-Week High – Still a Buy?

Shares of CAVA Group, Inc. (NYSE:CAVA) hit a new 52-week high on Monday . The company traded as high as $141.25 and last traded at $140.37, with a volume of 1432466 shares changing hands. The stock had previously closed at $136.09.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CAVA shares. TD Securities raised their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Wedbush increased their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $90.00 to $110.00 in a research note on Thursday, August 29th. Finally, TD Cowen increased their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.93.

CAVA Group Stock Up 1.7 %

The company has a market cap of $15.79 billion, a P/E ratio of 340.32 and a beta of 3.33. The business’s 50 day moving average is $123.64 and its 200 day moving average is $96.79.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. During the same quarter last year, the business posted $0.21 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. As a group, equities research analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 over the last three months. 12.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of the business. Capital Research Global Investors raised its stake in shares of CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after purchasing an additional 492,667 shares during the period. Federated Hermes Inc. boosted its stake in CAVA Group by 9.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after buying an additional 93,635 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.